Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stock Holdings in Bank of New York Mellon Corporation $BNY

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,927 shares of the bank’s stock after selling 3,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bank of New York Mellon were worth $13,806,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after buying an additional 19,561,793 shares in the last quarter. Norges Bank purchased a new position in Bank of New York Mellon during the 4th quarter valued at approximately $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after buying an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Bank of New York Mellon by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after buying an additional 2,034,781 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Bank of New York Mellon during the 4th quarter valued at approximately $227,437,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the sale, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BNY. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Citigroup began coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Barclays lifted their price objective on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Finally, Truist Financial lifted their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.08.

Bank of New York Mellon Price Performance

BNY opened at $142.65 on Friday. The business has a fifty day moving average of $132.70 and a 200 day moving average of $122.57. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $144.98. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $97.91 billion, a P/E ratio of 17.68, a PEG ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the business earned $1.58 EPS. Bank of New York Mellon’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s payout ratio is 26.27%.

About Bank of New York Mellon

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.